Namfisa dedicates October to consumer education

The Financial Institutions Supervisory Authority of Namibia (Namfisa) has declared October as Consumer Protection Month, with the aim of educating consumers about their financial rights and obligations. This initiative provides a valuable platform to highlight the critical importance of protecting and enforcing consumer rights, protecting them from misconduct in the marketplace and ensuring they are informed of their responsibilities when working with financial institutions.

The nationwide celebration of Consumer Protection Month includes activations of shopping centers and workplace forums at public bodies, educational institutions and ministries. Through these events, Namfisa seeks to raise awareness of financial rights and protections, while also connecting with corporate and government organizations to increase financial literacy among Namibian consumers.

“During Consumer Protection Month, we encourage consumers to educate and equip themselves with the knowledge needed to make informed financial decisions. Understanding your rights as a consumer is the first step to financial empowerment, while at the same time demanding transparency and pushing for clear and comprehensive information about financial products and services. Always ask questions and seek clarification to ensure you make the best choices for your financial future,” said Kenneth Matomola, CEO of Namfisa.

He urged consumers to safeguard their data by safeguarding their personal and financial information while being vigilant against fraud, identity theft and scams that could compromise their financial security.

“Consumer Protection Month reminds us that as a consumer you have rights that deserve protection. Your financial well-being is an integral part of your life and should be treated with the utmost care and respect. This October, join us in celebrating Consumer Protection Month by taking steps to secure your financial future, advocate for consumer rights and promote financial literacy within your community. “Together we can build a more transparent, fair and secure financial landscape for all,” said Matomola.

Consumers are invited to visit Namfisa’s mobile office at the Windhoek Industrial and Agricultural Show and shopping centers. Namfisa would like to take the opportunity to demonstrate its commitment to maintaining a safe, stable and fair financial system in Namibia. Consumers will have access to valuable information about their financial rights, the complaints procedures and how to address issues with entities that fail to adhere to the principles of fair treatment of customers.

Namfisa strongly encourages consumers to regularly visit its website and official social media channels for accurate, reliable and informative content.